Eli Lilly To Lay Off 30 Percent Of U.S. Sales Force
DAVID GREENE, HOST:
NPR's business news starts with layoffs at Eli Lilly.
(SOUNDBITE OF MUSIC)
GREENE: The Indianapolis-based pharmaceutical company announced yesterday that it is laying off 30 percent of its workforce in the United States. Eli Lilly says about 1,000 full-time and contract sales representatives will lose their jobs. The Wall Street Journal reports that the company made the move to cut costs so it can better compete with generic drug-makers. By March, Eli Lilly will lose paten protection on two of its bestselling drugs.
NPR transcripts are created on a rush deadline by a contractor for NPR, and accuracy and availability may vary. This text may not be in its final form and may be updated or revised in the future. Please be aware that the authoritative record of NPR's programming is the audio.
Correction April 12, 2013
Earlier audio and online versions of this story incorrectly stated that Eli Lilly was laying off 30 percent of its U.S. workforce.